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11.23.11 Weekly Recap

APMEX wishes you a

Happy Thanksgiving!

Markets posted significant losses this week because of the worsening European crisis, negative reports on the U.S. economy and Congress’ failure to agree on budget cuts. Gold dipped below $1700 on Monday but rebounded on Tuesday as investors chose Gold as their safe haven asset. Stocks have continued their run of losses; the S&P 500 posted a loss for the sixth straight trading day on Wednesday as the U.S. markets prepare to go on holiday for Thanksgiving.

The lack of an agreement among lawmakers in Washington raised the speculation that further downgrades to the U.S. credit rating could be coming, as well more large losses in equity markets. “Failure to reach agreement on at least the minimum required savings will reflect poorly on Congress and the S&P 500 could fall by 10 percent to 1,100 percent,” said David Kostin, an Goldman Sachs equity strategist. Kostin said,“The wide range of possible outcomes on both the super committee process and the unstable political economy in Europe drives our view that investors should assume the worst while hoping for the best.” Daniel Clifton, policy strategist with Strategas Research, stated, “We would expect further downgrades, a first downgrade from Moody’s and Fitch and possibly a second downgrade from S&P.”

The U.S. Commerce Department reported that the gross domestic product (GDP) grew at a less-than-projected rate of 2% from July to September. With the S&P 500 hitting its most prolonged slump in nearly four months, there is continued speculation that the Federal Reserve will provide another round of stimulus in response to this country’s sluggish economic growth. Peter Boockvar, an equity strategist at Miller Tabak & Co., messaged his clients about the possibility of QE3. He wrote, “The bottom line with the Fed at this point is when they embark on QE3, as the top people there seem to want it. Whether they couch it in future economic conditions or not, the result is still the same: printing money that they think will create a better environment for economic growth that they haven’t been able to achieve.”

1986 1 oz Silver Libertads

Buy this beautiful Silver Proof Mexican Libertad proof, box and CoA for the low price of only $8.49 per coin over the spot price! Each coin contains 1 full ounce of .999 fine Silver. This 1986 1 oz Silver Proof Mexican Libertad is contained in an original mint capsule and handsomely displayed in a decorative box with a numbered Certificate of Authenticity. The value in this offer is sure to please any collector.

On the obverse, the Mexican Libertad coin features Victoria, the winged goddess of victory in Roman religion. The design was inspired by “The Angel of Independence,” a famous gilded victory column erected in 1910 in a Mexico City roundabout to commemorate the centennial of the beginning of Mexico’s War of Independence. On this Silver proof coin, Victoria holds a laurel wreath and a broken chain, symbolizing freedom. Behind Victoria are the two iconic volcanoes Popocatepetl and Iztaccihuatl, which are steeped in Mexican lore. The legend of “Lover’s Peaks” recalls the Pre-Columbian tale of two lovers whose romance came to a tragic end. The attractive reverse of the Libertad displays the Seal of the United Mexican States, with a Mexican golden eagle perched on a cactus and clutching a snake with its beak and talons.